Technical Strategy Cross-Asset Chartbook Crude threatens key short-term support, which we suspect will act as a fulcrum for other markets across asset classes

研报英文原文证据摘录

Technical Strategy Cross-Asset Chartbook Crude threatens key short-term support, which we suspect will act as a fulcrum for other markets across asset classes

J P M O R G A N Global Markets Strategy

28 May 2026

Technical Strategy Cross-Asset

Chartbook

Crude threatens key short-term support, which we

suspect will act as a fulcrum for other markets across

asset classes

Technical Analysis

Jason Hunter AC

(1-212) 270-0034

jason.x.hunter@jpmorgan.com

J.P. Morgan Securities LLC

• The December 2026 Brent crude contract has carved out what looks like a

bearish trend reversal pattern below the 93.00 Dec 2020 channel tend line and

other resistance levels. A cluster of our bearish pattern-based signals on the

daily and weekly time frames have also triggered as the market has reversed

from near that resistance. In our view, a break below 82-84 nearby support

would confirm the trend reversal and put the market on course for a mean

reversion to medium-term support in the low- to mid-70s. The S&P 500 Energy

Sector Index chart failed to achieve a new conflict-period high in May with the

commodity, and also has what appears to be a bearish medium-term trend

reversal pattern in place...

• … We believe a downside break through nearby support levels in these markets

will act as a fulcrum for other global markets, firstly allowing the front-end of

the Treasury market to complete its bullish trend reversal from the 4.09-4.11%

support zone. Closes through 3.98-4.025% resistance would confirm that trend

reversal and favor a mean reversion to resistance near 3.85%. We already faded

the weakness near the noted support zone based on our bullish short-term

outlook and suggest holding that long trade...

• … The initial Treasury rebound was led by other DM bond markets, which saw